tv Charlie Rose Bloomberg October 18, 2017 6:00pm-7:00pm EDT
announcer: from our studios in new york city, this is charlie rose. was: forbes magazine established 100 years ago. magazine was began to celebrate the world of american business and it has become more than just a magazine, growing into a media and technology company. to celebrate the centennial, the amassed an a-z of greatest living business minds. ,oining me now is steve forbes
the editor in chief of forbes media. have all ofeased to them at this table. forbes and what is it? >> it is the same today and it in 1917.e first issue business was originated to produce happiness and not to pile of money and millions. entrepreneurial capitalism. critic. drama he went after henry ford for the way that he treated the employees. he wanted the best out of capitalism. he thought that was the way we all got to rise up.
was a year to start a magazine. what's it showed his spirit. it was during a war and the russian revolution. therandfather created capitalist tool and it survived the soviet union. storyre is the gorbachev i want to talk about. andmagazine got traction william randolph hearst offered to purchase it. >> yes. hearst was allowed to continue his column. my grandfather was the only person that hearst a loud to have something on the side. in 1928, he offered tens of millions of dollars to buy my grandfather down. my grandfather turned it down and he had cause to regret it a year later. the depression came and the
magazine was all but bankrupt in name. paychecks.t cash he would put them in the safe. >> how close was the magazine to going under? >> it almost did. he had to scratch savings and he instituted with the employees had scotch week. rth week, you didn't get paid. people were glad to have a job. years later, he was able to cash the checkshats -- that piled up in the safe. fromlk about the changes your grandfather to your father to yourself. >> this is something that peter drucker said.
people should remind themselves of what their purpose is and what you are trying to do. andbelief is in capitalism that spirit allowed us to survive when the internet rose . and shattered everything my father made a transition to staff-written. he made transitions and became statistically-oriented. in the 1990's and the early web destroyed the print industry and we made a transition. but you had to find new ways to get attention for the magazine. you had to find new ways to get attention for the magazine. 1982, one thing that
underscores business is -- my father talked about the top and thele in new york editorial department resisted it. they said the information was not there and they did a study and said that it was impossible. my father said he would do it and he would hire the people. they said, ok. they did it and it was a success. host: there is no way we can do this. >> impossible. they had conversation and they said the information was not there and that the people would descend on these people. popular andt to be it shows how much the list changes. the first list had the duponts and rockefellers.
they are not on now. new money. people rise up. , innames that are on their 20 years, half of them will not either. the 100 anniversary article you wrote and it is an interesting piece of history. how aggressively and lavishly forbes has courted advertisers. >> my father was interested in whos and he was someone found a way to combine interests with the marketing in a way that normal companies would not. thatve a series of yachts are named "the highlander." it wasthought extravagance, but it was my at work.scottish genes
investing in a way to get a big return. attended many occasions and we always had to memorize who was on there, why they were on there, and we had to do our part to sell the magazine. you have to know where the bread is buttered. host: the anniversary party with reagan after he left office and gorbachev, what happened? >> we thought it would be great to bring the man who brought down communism and the man who made it possible for a peaceful transition together. each would have a great time. just before the event, gorbachev made demands and said that he was being exploited. i thought that this whole thing would collapse and i wanted to
-- we had gone over this many times with his people. piece by piece, timeline by timeline, just to make sure that nothing went wrong. it almost did. ronald reagan was gritting his teeth. on.achev was egging him reaganthings smooth and gave a good speech and gorbachev gave a speech and said that steve forbes is trying to exploit him. everybody thought he was trying to be humorous and laughed. they did not realize he meant it. >> it all worked out. the online part of this. he has played a role in this. >> tim, my brother, recognized what it would do to
print and we had to make adjustments. went online and most people thought that if you put a printed page online, that was electronic publishing. people fall that you would just take a stage play and put it on the screen and that was a feature film. no way. we combined mediums after 10 years and things became more robust and we had most of our content not for the magazine and you can look at most print magazines and most of it is from what has already appeared. most of ours is not. my brother and i decide to make the next move of bringing on a chief product officer. -- yes, we print 1000 articles year -- but we have contributors who are writing on various areas of
expertise every day. [cross-chatter] >> my brother brought me up well. host: this brings us to a transition in the future. you run this magazine now. mike, you are president. what do you want forbes to be? >> we no longer have scotch week. atyou want to come work forbes, we do have scotch, but not scotch week. andes is a tremendous brand of making theo business as big as the brand. myself, do notng
recognize how well-known the brand is and, when you look at the magazine and the history there, it provides real journalism and gravitas. steve was talking about the incredible sustainable scale. the combination of them is compelling. >> the brand is important. we are at our highest print readership. people are still reading the magazine. the more we do great journalism and print, this gives us incredible muscle through for bes.com. zero-sum game. the more success we have online,
more success in print. it translates. as mike said, there are the foreign editions around the world and it is a global brand. host: you are not shutting down the printing presses. >> we have 38 editions around the world and we are expanding the printing presses. list,e this 30 under 30 our new list. millennial -- first of all, they all want to be on the cover of forbes. ask for a profile, they want to know if it will be in print. in the era where content is ubiquitous in universal, the fact that we take a step back and we put out great and heavily
researched journalism in a print andzine, it is very strong it is a window into our brand. we have this seo and the resources to do great journalism. host: people want the cover. once they want something tangible. been on more has magazines than anywhere in the world. forbes means success. it is not a fad. this is part of the strength we have right now. post: are trying to make the you areas -- host: trying to make the company as big as the brand. we arehe companies trying to profile, we are not there yet and we are starting to move there. one of the things is, entrepreneurs feel that we
understand what they are trying to do and that our task is now to go into areas like education. wehave a partnership now and will be doing that in other areas. they call this "brand extension." it is natural. company?bes a media what is it? >> media, in terms of information. we are providing you tools to succeed in life. each story tries to have a morality tale that you can take away. it is something that relates to something you are trying to do, want to do, or did do. you feel you are getting something out of it, more than just information. >> we are a global media and branding company with technology
at the center of what we do. that is how we approach the business. efficiency andes businesses and other opportunities. it is a media company and the brand. it is unique to us. we have an incredible combination. had the lastfett original old issue. on aave also had him have -- >> this issue has president trump on the cover. you talked to him. how was that? >> we were at the resolute desk that jfk and ronald reagan used. we have the forbes 400
billionaire president and this is somebody we have had a relationship with. he is making it very interesting. we have a long relationship with him and bring billionaire president and diffet perspectives. andave him down this week we have him down 600 million, year-to-year. new york real estate is down and less people are going to his golf courses and people are , inng with their pocketbook terms of playing golf. people think about where the numbers come from and i have a team of people who are getting under the hood and looking at records. this has research behind it. >> we have a cover from 1990. s how much is the donald really is the donalduch
really worth? 20 years ago, they were asking the question. take public information and you going to records. banks will tell you. whatu dig, it is amazing is out there. you then go to the source. you ask if they want to help or hinder. people and most people end up cooperating. they are not always happy. we had somebody call up and the berate us. of as in the middle divorce and his wife did not know how much he was worth.
people have this reactions to the numbers. >> even those who say they do not want to be on it, they see it as a badge of recognition. >> there are a lot of people who want to be higher and there are people who want to be lower and it is our job to check everybody. nobody is exactly happy. >> there is a way to get off of the list. give away your money. >> irrevocably. is not sohey say it bad to stay on the list. >> wealth is not tangible stuff. it can change. a piece of equipment can be worth nothing tomorrow because of technology. it is not about physical things. >> where do you want the brand to be, besides the magazine?
with 26ve licenses languages in different countries and we create a network around the world that creates opportunities. one is around a global alliance of ringing people together in groups around the world and doing introductions. this is a great thing that forbes is able to do. we convene the movers and shakers of the world. education is a growth area. we have a degree program for the school of business and we are looking at a skills-based program. if you talk to educators, that is where our economy is, more so in a four year degree program. france in the forbes
other parts of the world? have the local language edition. creatingmoving ahead, resources, doing things that have not been done before, and we think we are doing our part global economy. people do well, we do well. the prosperity lifts us all up. writing about these people, discovering them, criticizing them, we play of key role in enabling other entrepreneurs to do what was done in the united states. >> how does the global world play into "america first."
thing to say, if we do not do well, the rest of the world is in trouble, but we are part and parcel. sethe 1930's, we tried to ourselves off from the world and we learned we can be strong and prideful of america, but we have to deal with the rest of the world and the way in which we cooperate together. a prosperous world is a good world for us. when the world is not prosperous, like the 1930's and 1970's, it is bad for us. >> how is the president doing? dei am glad he is doing regulation, but will he get the tax cut? that, prosperity covers a lot of sins.
>> do you think that happens? it will.k it is an instinct of self-preservation. prospect of a hanging focuses the man's mind perfectly. the prospect of a political hanging will focus the republican mind. cutbetter get a big tax through or some of you are going to be uber drivers. >> where do you want to see it? >> all. economies are people. >> flat tax? stepsee this as the first in the long journey. >> you still think that is a possibility. countries have done it and it is working in the real world.
bill, youter this tax get the big tax cut in the first term and a major overhaul in the second term. weope for replay here and get to simplicity. if we take all of the resources from the past 20 years, there are trillions of dollars and we so much complying with the code. all of these tens of billions of ofrs are literally trillions dollars. think about how much better off we would be. there is the opportunity cost. it is huge. it is a scandal that we waste our time on this idiot code instead of doing more productive things. >> thank you all very much. >> thank you.
johnson. it is a surprising upset. west.ennedy has won the >> hi. do you mind if i ask you a question? >> all of the liberals hate him. >> we need southerners. >> i guess you kennedy's don't to a lot of this. >> john kennedy has been elected as the president of the united states. >> what makes you think he is on our side? >> he is not going to tell us how to run the state of georgia. >> the people have always had your back. >> let's load the thing down.
if i am going to make a run in 1968, i need people to like me. >> how could anybody not like him? >> you have martin luther king in a jail cell. it is an embarrassment to the world. >> what are we waiting for? >> a new leader has emerged. >> america has a southern president. >> you don't waste any time, do you? kennedy was a man of great ideas. our country needs someone who can deliver. >> there will be no compromise. this is about making president kennedy's vision a reality.
>> this will define your presidency. >> i can only hope. >> welcome to both of you. this is because you took a here. time why did you decide to approach lbj in this way? >> we wanted to look at him as a complete person. if we were going to do a biopic, you would need 12 hours to go from his childhood in west texas to his legislative rise to power and becoming vice president and president. what we wanted to do is limit.
it is like greek drama terms, limiting the time frame to explore a character more fully. that is what we tried to do with this. personally, i hated lyndon johnson when i was young. i was of draft age. vietnam, he could've sent me to the death. -- my death. in policy and politics and i have appreciation for what he was able to accomplish. in that moment of his life, when he assumed the presidency and the power of responsibility, we were able to explore who he really was in that time of his life. he seems to have a bit of a moment. .here are the co
would have been one of the great presidents of all time, but you cannot overlook the vietnam war. it was there. it is a flawed character. that is what makes it interesting. hopefully, it sheds a on to who he was as a person. he was not just all in the china in the china shop. he had a sensitive side and he was insecure about who he was and had a fear of being loved, moving forward, frightened to death of what happened if he is not loved. we wanted to have a full picture of him. i wanted woody. i don't think anybody could have played it away that woody does. hours in the 7 makeup chair --
hours in the morning and an hour to take it off. similar. are i didn't really like lbj. i thought that this guy was such -- what he did in vietnam is hard to forget. another friend of mine named rob tried to convince me to play him in a movie and i just didn't like the guy and didn't want to do it. he said to read the book. i read the book and it didn't change my mind, but it softened my approach to him. rob askedfter that, me and i said, "if rob reiner wants me to do it, i might have to play the part."
the more i learned, i can't qualify him as a bad guy. you cannot overlook vietnam, but i think that he did a lot of good things. >> why do you have to like a person to play the role? >> i don't know. if you are going to invest yourself in someone -- like with and metynt -- i went with him and said, if i didn't like him, i wouldn't play him. i ended up liking him and we are still friends. he does isome things don't love, but i love this $10 million offer he has going. person'sve to feel the humanity. if they are going to be the devil, it is hard to play. you wants to find the humanity.
reading doris kearns goodwin's book was an eye-opener and i found things that changed my way i thought about johnson. he had this recurring dream of dean paralyzed and he had this fear that his mother did not love him. those were interesting things to look at him. >> what do you think it was about what doris saw that robert caro didn't focus on? lbj in therked with white house and she went down to the ranch in texas to do his biography. wasknew him personally and able to get some personal things out of him. robert caro is the ultimate biographer of lbj. anything you want to know about his life and what he did, you
read robert caro. he will tell you. from his personal standpoint, that always stuck out. >> this whole movie revolves around the civil rights bill and lbj's progression on it and his instrumental role in seeing it passed. how did he evolve? >> it is very complex. he came from a very poor area of country and hell understood poverty. no question about it. he was raised in it and he understood it. his great society was all about trying to lift people out of of poverty. somewhere, he knew that this was the right thing to be done and he also knew that he was a legislator and he wanted to make sure that he got things done. he viewed himself as a texan, a
westerner, but people talked about him as a southerner. he took the mantle and used it to bridge the south and the north in passing the legislation. i don't believe that he felt that he could get it done when kennedy was alive and that's why he argues it will never become law. he knew that it wasn't the right time. when kennedy was assassinated, he saw the opportunity to do something historic and get it passed and he was a consummate legislator and politician. evil, but iowa's think he had a bit of it in him and it never came out until he saw where it could be a win. talk andare very crude very crude scenes.
the over-the-top scenes are some of the most memorable. can you talk about those and playing those. between negotiating with a legislator and being on the phone with a taylor at the same time-- tailor at the same and the language on the toilet. he did not hold back. we heldct, i think that back in he was a little more extreme. he was different, as a statesman. you have some politicians who vulgarst very publicly. he was very conscientious of that. in private, he let it go. both of those scenes are well-documented. >> there are recordings of them. the scene where he orders the pants. >> the most famous recording of him is where he is
ordering his pants. we screened this at the lbj es wasy and lucy bayn there. we were nervous. the film was over and we went on the stage and they are going to interview us and i'm scared. she is there in the front row and all i care about is what she thinks about this guy and the relationship to her mother. i asked her and said, what do you think. she stood up -- what do you think? the mand up and said, i saw on the screen tonight was the man that i knew. that is all we needed to hear. >> how did he approach you about doing this? >> i can remember. he called me up. he said --
i was not 100%. i just told my other friend how i would never play lyndon johnson. then, i wanted to work with rob and i read the script. it. hearthstone wrote it is fantastic. it all fell into place. rob: we talked about it and he expressed his doubts. he said, i don't know about this guy. i said, vietnam war, the man could semi-to my death and i was worried about that. let's take a look and there could be something more to this know.an what we like you have to work that hard. he is one of the greatest living filmmakers. i just wanted to work with rob
and i was psyched to work with him. since then, i have done another movie with him. a movie together, but we didn't have any scenes. i had scenes with matthew mcconaughey. never as a director and an actor. >> when you say yes to a role, is the process deliberative or instinctual? -- you know, the main things are the script, the story, if it has heart, if it is the otherrector, and considerations are other actors. are good story and good script, an. and, the director.
>> i didn't think i could tell the story. i needed somebody with humanity. woody isfrom texas -- from texas and he has a sense of humor. i wanted a full picture of lbj. i didn't know who would have all of the qualities and could display the vulnerability that lbj had, at times. lbj had, at times. retail.
>> there are chilling scenes russell and richard talk about civil rights. one of the striking things is akst this is just sne up on you and they are being served by an african-american without any recognition of what is taking place around them. the way a lot of people from that time viewed that. richard was with russell, he acted differently
than when he was with the kennedys. .e talk about that he says he is the only one who speaks kennedy and speaks southern. the seeing you are talking j make a bit oflb a change and he is trying to push richard russell. he is always trying to push richard russell further than he is willing to go and you see the incredible negotiating gift that lbj has. that was the time. that in frontlike of african-american people. lbj, it was endless compromise. >> he thought there was no way they would get civil rights done and it would not be moved in congress. can just placate this side
and the other side, somehow, i can survive and get more power. may be, at some point, i can achieve what i want. shoot?did you talk about the process? 27-28 days. the toughest scene was dealy plaza. than sixat in less hours. they only gave us six hours. and we were that able to do that. i am proud of how we did the same. >> it was economy of motion. if plays such a significant part in the way you have to build to that. >> the whole movie takes place within two weeks from when s at love field
to the time when lyndon johnson delivers the speech. and a writer,or what did you learn? >> he is the true, great, consummate professional who understands using this for that angle and he has it all blocked head.ke a puzzle in his i love the way he is able to shoot so effectively with so little -- i mean, most of the time, we are done by lunch. we would go home at lunch. plaza, ihing at dealy had the four cameras there and i had them go around three times around the plaza. and i three shots at that
had 12 angles and i had picked out all the angles ahead of time . i knew where i wanted the camera each time and i gave a guide a der.ra and made him be zapru i put a guy on the stanchion. you see the car come out from behind the sign and all of that. >> the other interesting part is what happened immediately after. is shuffled off to the hospital and there is a decision as to when to make the announcement that kennedy was dead. the skills that lyndon johnson has when he takes charge. you see a real president in action. there is a moment we have where they say kandi has died and we cut to lyndon johnson and
everybody is staring at him and he is sitting in a corner and he just stands up. he becomes the president at that him take you see charge. that is the confidence that he had. then, he would drift back to being insecure and he would have to be built back up again. with all of the confidence and all of the insecurity in the world. >> he continued to deal with the problems from bobby. he did not want the office. he was grieving. >> right. he was devastated by the loss of his brother and i have had conversations with bobby kennedy
jr. and it he was devastated was hard for him to even function. we try to show that moment in the oval office one bobby kennedy is alone and he puts his hand and his head on the rocking chair and starts to cry. we tried to show that most of they were antagonists. there is no question that bobby and lyndon were antagonists. >> you keep coming back to politics. >> it is part of my dna. my mother was against the vietnam war. anotherr was part of mother for peace. famous poster of "war is unhealthy for children and other living things."
it.s raised in it is part of my life. >> what would you like people to take away from this? the way government is supposed to work and a real president is supposed to conduct his job. stays with usace and it has come back to the surface because of what is going voice to has given a this. we're still dealing with it. and we started the movie, donald trump was not in office and we were making a movie about a president and civil rights is at the center. a lot of good movies have been made and here is another one. this takes on greater importance
in the atmosphere we are living in. again, it is how government is supposed to function. >> what do people see? opinion.t have an i hope people will see this and what they take away is their prerogative. here is a guy who was wronged by becausein some ways you associate him with vietnam and he accomplished a lot. by the way, it is ironic how much of what he accomplished is being undone by trump, whether it is clean water, clean air, medicaid. liket -- to just feel
maybe lbj isn't so bad. >> we didn't even get to the great society. >> we don't see the passage of civil rights. he talks about it and it gets passed and the voting rights act. it has been hampered by the courts. >> what is next? >> we did another movie called "shock and awe." it is about the run-up to the war in iraq and about journalists who got it all right . it was against a lot of journalists who got it wrong and bought into the administration's thoughts about weapons of mass destruction and the connection to al qaeda.
these guys got it right. woody plays one of the journalist. i am in the movie. you get with woody and tommy lee jones and these are great actors. hits the ball at you good. >> they hit it flush. you have shock and awe and star wars. movie called lost in london. time in 99n real minutes and live streamed it in theaters while we shot it. this was back in january. >> i want to see it.
>> it is one of the great film of accomplishments. it is just astounding. watch that he, to was able to use 14 different locations and tons of actors with one camera and one-shot. it is just astounding and he acts and directs. there is own will sink, make woody harrelson -- there is owen nelson, and woody harrelson. >> it is a shame you guys don't like each other. >> i have set it before -- i could make every movie with him. it is such a pleasure.
yvonne: 17:00 a.m. in hong kong, live from bloomberg's asian headquarters. i am yvonne man, welcome to "daybreak asia." the dow posted its biggest gain in five weeks amid new benchmark highs and corporate earnings beat estimates. china reports third-quarter gdp later. the forecast saying growth is slowing. however, president xi once quality, not quantity. kathleen: i am in new york where it is just pastors -- just past 7:00 p.m. wednesday. strengthening u.s. economy despite two major hurricanes. janet yellen